Journal: TWUKSection:
Title: Issue Date: 02/04/01
Author: Page Number: 8
Copyright: Other

Stakeholder pensions are a good investment

ABTAis urging all agents who employ five or more staff to set up a stakeholder pension scheme in order to avoid falling foul of new Government legislation. Any employer who stubbornly resists this new responsibility will face a fine of up to £50,000.

Agents may well complain that this is just another bit of unnecessary red tape distracting them from the all-important business of selling holidays.

But they should think again.

Stakeholder pensions are a cheap, flexible way of allowing workers not normally eligible for an occupational pension to save towards their old age. Any agent interested in finding and hanging on to good staff – and who isn’t these days – must be willing to look after them in return for their services.